Black Friday surprisingly strong for jewelers

Several jewelry retailers from across the nation who spoke with National Jeweler today say sales were higher than expected over Black Friday weekend, while others project a strong holiday season with the majority of sales in the last two weeks before Christmas.

At Evan James Ltd. in Brattleboro, Vt., owner Evan James Deutsch says Black Friday is usually just a normal sales day for him; however, this year traffic was high, which he credits in part to the promotions he created for the store's recent anniversary.

"It was an overall good day," Deutsch says, "with lots of enthusiasm and traffic."

Sales were also high on Saturday but dropped off around 2 p.m., Deutsch says, adding that most of the store's holiday sales happen a couple of weeks before Christmas.

At Allen's Jewelers in Albany, Ga., owner Steve Allen says Black Friday is typically not a big deal for his store either because it's far away from the mall; however, Saturday's sales were much higher than normal.

Allen says his jewelry is more expensive this year compared with 2006, but hasn't heard complaints.

"Most people aren't barking at price points," he says.

Allen also says he cut back on inventory this year and added lower price-point pieces to balance his stock.

Aaron Penaloza of C. Aaron Penaloza Jewelers in San Antonio, Texas, also had an unusually successful Black Friday with "wonderful" sales, followed by a strong Saturday.

At Farmer's Jewelry in Lexington, Ky., owner Bill Farmer Jr. says Black Friday was an "excellent" day for his store too and estimated that sales were up over last year.

"Right now, I'm more optimistic than I thought I would be," he says.

While nationally retailers reported slower sales on big-ticket items, Farmer says that wasn't the case in his store. He says diamonds and engagement ring mountings were top sellers over the weekend, which he notes was unusual for this time of year and not necessarily what his store had been pushing.

At Van Rensselaer Jewelers in Billings, Mont., owner Steven Morse reports that big-ticket items also sold well in his shop over the weekend, including the sale of a 2-carat pink diamond. Other top-selling items included diamond pendants and earrings.

Morse says sales were up overall, and he anticipates colored stones—both diamonds and other gems—to be hot sellers this holiday season.

Out West, jewelers didn't fare as well, with Alvin Goldfarb Jeweler owner Steven Goldfarb saying the whole weekend was kind of a "non-event" for his Bellevue, Wash., store.

He says sales were on par with weekends earlier in the month, and that big-ticket items were not moving. His top sellers were Roberto Coin yellow- and white-gold pieces containing small diamonds and retailing for $1,500-$2,000.

While Goldfarb says overall his business is the same or down very slightly from last year, he expects watches to be big sellers this holiday season, which he credits to good marketing by watch companies.

John Anshus of Anshus Jewelers in Menomonie, Wisc., also feels watches will be a hot item this season. He sold "a little bit of everything" over the weekend and says higher-priced items won't move until the last two weeks before Christmas because of the uncertain economy.

"People don't want to part with their money," Anshus says.

Allen Brevelle of Brevelle's Jewelry in Lafayette, La., also says his Black Friday sales were about the same as last year, which weren't too exciting.

"It's a little bit better than a typical day," he says, adding that he projects average holiday sales.

At Susan Eisen Fine Jewelry and Watches, with two locations in El Paso, Texas, owner Susan Eisen says Black Friday is never big for her because many people flock to the malls. This year, sales were standard, she says, adding that it's hard to say what the hottest sellers will be for Christmas because most of her sales occur just a couple of weeks before the holiday.

At Castiglione Jewelers in Gloversville, N.Y., owner Louis Castiglione says he was busy on Black Friday, but it's not the mayhem the media paints it to be.

As an independent retailer, Castiglione says he caters to special occasions, which makes it difficult to evaluate business on a daily basis.

"When we look at Christmas, this fourth quarter, so much of it happens the last week or two weeks before [the holiday]," he says, adding that men are classically last-minute shoppers, but since some have already made purchases at his store, his sales numbers could be skewed.

Overall, Castiglione projects solid holiday sales.

"Our product is geared to more of an affluent customer who is less apt to feel the pinch of the economy this quickly as people with smaller budgets," he says.

Georgia Burke of B.C. Burke Fine Jewelry in Orland, Maine, says Black Friday sales were about the same as last year.

"It hasn't been great," she says, pointing to her freestanding store, when most people shop at the malls on Black Friday.

She says people are spending less on individual pieces this year and credits it in part to expensive gas prices.

Despite these setbacks, Burke anticipates a good holiday season.

"We are just kind of going with the flow," Burke says. "I have a feeling it will be good.
Source: nationaljewelernetwork